EU Leaders Agree To Ban Most Russian Oil Imports

The Associated Press reports:

European Union leaders agreed Monday to embargo most Russian oil imports into the bloc by year-end as part of new sanctions on Moscow worked out at a summit focused on helping Ukraine with a long-delayed package of new financial support.

The embargo covers Russian oil brought in by sea, allowing a temporary exemption for imports delivered by pipeline, a move that was crucial to bring landlocked Hungary on board a decision that required consensus.

Ursula Von der Leyen, the head of the EU’s executive branch, said the punitive move will “effectively cut around 90% of oil imports from Russia to the EU by the end of the year.”

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Ukraine live: EU leaders agree to ban 90% of Russian oil by year-end https://t.co/GsV51jcEtI

— euronews (@euronews) May 31, 2022